2015-12-18T16:20:35-06:00 2015-05-31 363168081 SIKICH LLP 1415 W DIEHL RD SUITE 400 NAPERVILLE IL 605632349 990 2014-06-01 362170999 UNIVERSITY OF ST FRANCIS UNIV 8157403372 500 WILCOX STREET JOLIET IL 604356188 ELIZABETH A LAKEN VP - ADMIN & FINANCE 8157403372 2015-12-15 1 BRYAN PAUTSCH P00034913 6305668400 2015-12-15 2014 2016-03-07 17:11:31Z ARVID C JOHNSON 500 WILCOX STREET JOLIET IL 604356188 92547024 0 0928 X WWW.STFRANCIS.EDU X 1920 IL HIGHER LEARNING INSTITUTION (POST SECONDARY EDUCATION) 32 31 1249 646 27840 -10039 4074907 4751856 63443356 63380525 422914 488405 809835 815158 68751012 69435944 18769126 18315229 0 0 29218541 32708703 0 0 483030 14858028 15931331 62845695 66955263 5905317 2480681 76372932 79186185 36601309 37514929 39771623 41671256 X AS A CATHOLIC UNIVERSITY ROOTED IN THE LIBERAL ARTS, WE ARE A WELCOMING COMMUNITY OF LEARNERS CHALLENGED BY FRANCISCAN VALUES AND CHARISM, ENGAGED IN A CONTINUOUS PURSUIT OF KNOWLEDGE, FAITH, WISDOM, AND JUSTICE, AND EVER MINDFUL OF A TRADITION THAT EMPHASIZES REVERENCE FOR CREATION, COMPASSION AND PEACEMAKING. WE STRIVE FOR ACADEMIC EXCELLENCE IN ALL PROGRAMS, PREPARING WOMEN AND MEN TO CONTRIBUTE TO THE WORLD THROUGH SERVICE AND LEADERSHIP. 0 0 35928995 18315229 59415093 INSTRUCTION AND FINANCIAL AID: THE CATHOLIC, FRANCISCAN UNIVERSITY OFFERS 45 BACCALAUREATE PROGRAMS, INCLUDING 3 ADULT UNDERGRADUATE MAJORS, 19 MASTERS-LEVEL PROGRAMS (ONSITE AND ONLINE CLASSES), 3 SUB-BACCALAUREATE CERTIFICATE PROGRAMS, 11 POST-BACCALAUREATE CERTIFICATE PROGRAMS, 3 POST-MASTERS CERTIFICATE PROGRAMS AND 2 DOCTORAL PROGRAMS. IN FISCAL YEAR 2015, THE UNIVERSITY SERVED 1762 UNDERGRADUATE AND 2000 POST-BACCALAUREATE STUDENTS. IN ADDITION, 99% OF TRADITIONAL UNDERGRADUATE STUDENTS AND 100% OF INCOMING FRESHMEN RECEIVED SOME FORM OF FINANCIAL AID. 9672970 STUDENT SERVICES: STUDENT SERVICES INCLUDE ADMISSIONS, INTERNATIONAL RECRUITING, WELCOME CENTER, FINANCIAL AID ADMINISTRATION, REGISTRAR, ATHLETICS, STUDENT ENGAGEMENT & LEADERSHIP, ORIENTATION, GRADUATION, CAREER SUCCESS CENTER, HEALTH & WELLNESS AND PERSONAL COUNSELING SERVICES, SUPPORT FOR STUDENTS WITH DISABILITIES, INSTITUTIONAL DIVERSITY, AND UNIVERSITY MINISTRY. IN FISCAL YEAR 2015, 408 STUDENT ATHLETES PARTICIPATED IN BASEBALL, BASKETBALL, BOWLING, CROSS COUNTRY, FOOTBALL, GOLF, SOCCER, SOFTBALL, SPIRIT LINE (CHEERLEADING), TENNIS, TRACK, AND VOLLEYBALL. 8700815 ACADEMIC SUPPORT: LIBRARY RESOURCES AND SERVICES, ACADEMIC RESOURCE CENTER, INSTITUTIONAL RESEARCH, STUDENT COMPUTER LABS, AND ACADEMIC TECHNOLOGY, AND DEANS OF EACH OF THE UNIVERSITY'S FOUR COLLEGES ARE INCLUDED IN THIS CATEGORY. THE LIBRARY'S COLLECTION INCLUDED 112,226 BOOKS AND OTHER PAPER DOCUMENTS, 20,837 VOLUMES OF SERIALS, 1,767 MICROFORMS, AND 9,309 AUDIOVISUAL MATERIALS. CONSISTENT WITH THE INDUSTRY, THE UNIVERSITY'S RESOURCES CONTINUE TO MOVE AWAY FROM PRINTED MATERIALS AND TOWARD ELECTRONIC RESOURCES AND SUBSCRIPTIONS. THE RESOURCES AT THE LIBRARY ASSIST STUDENTS IN ALL METHODS OF RESEARCH. 4227782 3937592 AUXILIARY ENTERPRISES: RESIDENCE EDUCATION, STUDENT HOUSING, FOOD SERVICES, THE BOOKSTORE, AND CONFERENCING SERVICES ARE INCLUDED IN AUXILIARY SERVICES. 383 STUDENTS FILLED STUDENT HOUSING TO 95% CAPACITY IN 2015. NEW MIX OF DINING OPTIONS AND MORE OPTIONS FOR STUDENTS WITH FOOD ALLERGIES WERE ADDED TO THE MENU DURING THE YEAR. FOOD SERVICES ARE PROVIDED TO STUDENTS, FACULTY AND STAFF 16 HOURS PER DAY. 4227782 3937592 58530562 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 1 1 1 0 0 1 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 1 0 1 1 0 0 0 1 0 0 0 1 120 0 1249 1 1 1 0 0 0 0 1 1 0 0 0 0 X 32 31 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X X ELIZABETH A LAKEN 8157403372 500 WILCOX STREET JOLIET IL 605346188 KATHLEEN J MCGOWAN CHAIRPERSON & PRESIDENT 8.00 X X 0 0 0 CHRYSTEL L GAVLIN VICE CHAIRPERSON & VICE PRESIDENT 8.00 X X 0 0 0 ANTHONY ARELLANO TRUSTEE 4.00 X 0 0 0 ROBERT J BARON TRUSTEE 4.00 X 0 0 0 MARK D BASS TRUSTEE 4.00 X 0 0 0 DEWITT BUCHANAN TRUSTEE 4.00 X 0 0 0 KAREN CIARLETTE TRUSTEE 4.00 X 0 0 0 MICHAEL DOWD TRUSTEE 4.00 X 0 0 0 BRIAN GIEGERICH TRUSTEE 4.00 X 0 0 0 MARISUE GRABAVOY TRUSTEE 4.00 X 0 0 0 MARGARET E GUIDER OSF TRUSTEE 4.00 X 0 0 0 DIANE F HABIGER TRUSTEE 4.00 X 0 0 0 ARVID C JOHNSON SECRETARY & UNIVERSITY PRESIDENT 50.00 X X 247922 0 36920 DOROTHY KINSELLA OSF TRUSTEE 4.00 X 0 0 0 JAMES B LEWIS OCARM TRUSTEE 4.00 X 0 0 0 JOSEPH THOMAS MALLOF TRUSTEE 4.00 X 0 0 0 KARL MAURER TRUSTEE 4.00 X 0 0 0 CANDICE P ROSEN TRUSTEE 4.00 X 0 0 0 ARTHUR SCHEUBER TRUSTEE 4.00 X 0 0 0 PARAMJIT SINGH SIDHU TRUSTEE 4.00 X 0 0 0 CHERYL STEPNEY TRUSTEE 4.00 X 0 0 0 FAITH SZAMBELANCZYK OSF TRUSTEE 4.00 X 0 0 0 MICHAEL TURK TRUSTEE 4.00 X 0 0 0 THOMAS VANA TRUSTEE 4.00 X 0 0 0 ANTHONY VILLA TRUSTEE 4.00 X 0 0 0 PATRICIA S WHEELER TRUSTEE 4.00 X 0 0 0 PHYLLIS M WILSON TRUSTEE 4.00 X 0 0 0 LAWRENCE A WYLLIE TRUSTEE 4.00 X 0 0 0 ROBERT W WYSOCKI TRUSTEE 4.00 X 0 0 0 MARY JO YOUNG OSF TRUSTEE 4.00 X 0 0 0 DOLORES ZEMONT OSF TRUSTEE 4.00 X 0 0 0 STEVEN HERNANDEZ TRUSTEE 4.00 X 0 0 0 ELIZABETH A LAKEN VP ADMIN & FINANCE/TREASURER 50.00 X 153012 0 21255 FRANK PASCOE PROVOST AND ACADEMIC VP 50.00 X 176060 0 16669 ROBERT BEHLING BUSINESS & HEALTH ADMIN PROFESSOR 40.00 X 130825 0 24559 LAURA GRIMES PROGRAM DIRECTOR PHYS ASST 40.00 X 127461 0 14727 LYLE HICKS REC SPORTS & TOURISM MGMT PROF 40.00 X 142785 0 19783 CAROL WILSON COLLEGE OF NURSING DEAN 50.00 X 132309 0 16277 CHRISTOPHER CLOTT COLLEGE OF BUS & HEALTH ADMIN DEAN 50.00 X 128254 0 17389 MICHAEL VINCIGUERRA FORMER SECRETARY & UNIVERSITY PRESIDENT 0.00 X 12000 0 0 1250628 0 167579 24 1 1 0 FRANK BURLA & SONS BUILDERS INC 24115 S NORTHERN ILLINOIS DR CHANNAHON IL 60410 CONSTRUCTION SERVICES 2084961 SODEXO INC & AFFILIATES 500 WILCOX STREET JOLIET IL 60435 FOOD SERVICE MANAGEMENT 1732349 EXCEL ELECTRIC INC 24 SANGMEISTER ROAD FRANKFORT IL 60423 ELECTRICAL SERVICES 425087 CHAMPION DRYWALL INC 24121 S NORTHERN ILLINOIS DRIVE CHANNAHON IL 60410 CONSTRUCTION SERVICES 326960 PHOENIX SYSTEMS & SERVICE INC 362 S SCHMALE ROAD CAROL STREAM IL 60188 CONSTRUCTION SERVICES 280390 21 359484 1889594 2502778 186397 4751856 TUITION AND FEES 611310 59415093 59415093 STUDENT HOUSING AND AUXILIARY ENT 611310 3965432 3937592 27840 0 63380525 413544 413544 23010619 22935758 74861 74861 74861 233984 359484 175322 58662 58662 CHARGE CARD FEES & COLLECTION AGE 900099 182273 182273 ATHLETIC FUNDRAISING ACTIVITIES 900099 149382 149382 FEES FOR ACTIVITIES 900099 107808 107808 317033 317033 756496 69435944 63352685 27840 1303563 18315229 18315229 677097 198254 391169 87674 24259603 21414910 2639420 205273 1242308 1043267 183648 15393 4762919 4227040 491201 44678 1766776 1528601 221245 16930 56683 56683 87075 87075 118008 118008 2369566 1602025 747123 20418 424305 22812 400917 576 2372798 1634518 691046 47234 518644 344877 171699 2068 2293748 2105457 183147 5144 851274 665722 181623 3929 114902 92077 20850 1975 534052 477622 54488 1942 2992632 2676418 305332 10882 495402 212116 283286 FOOD EXPENSES 1661984 1573336 81905 6743 BAD DEBT EXPENSE 248982 0 248982 0 MEMBERSHIPS 242531 128906 113624 1 FEES 215099 81747 129639 3713 333646 185628 139561 8457 66955263 58530562 7941671 483030 4030 3030 7903008 6818558 53327 236271 2871546 4984152 1291308 1326016 450787 535186 78571828 33823614 40153921 44748214 20915912 17790135 2729093 2744623 76372932 79186185 3502999 4386202 3488006 3982716 27062000 26189000 2548304 2957011 36601309 37514929 X 27838983 28810763 3842945 4109775 8089695 8750718 39771623 41671256 76372932 79186185 X 2480681 -351080 22008 -251976 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 15321950 2024948 437307 465904 10548 17307753 14401149 658604 693090 422155 8738 15321950 13607211 312705 728800 245667 1900 14401149 10245264 228301 3870 275171 10202264 6964970 2939272 669907 328885 10245264 0.36600 0.50110 0.13290 1 0 1696500 5835579 7532079 49705825 22428992 27276833 934764 87503 847261 12419348 8832397 3586951 7979812 2474722 5505090 44748214 CAPITAL LEASE OBLIGATIONS 60873 OTHER LIABILITIES 1546845 INTEREST RATE SWAP AGREEMENTS 311635 U.S. GOVERNMENT STUDENT LOAN FUNDS 1037658 2957011 X 51200037 22008 175322 197330 51002707 118008 18315229 18433237 69435944 48697348 175322 175322 48522026 118008 18315229 18433237 66955263 PART V, LINE 4: THE INTENDED USES OF THE UNIVERSITY'S ENDOWMENT FUND ARE: SCHOLARSHIPS, PRIZES AND AWARDS, FACULTY DEVELOPMENT AND OTHER PROGRAMS. PART X, LINE 2: THE UNIVERSITY IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND A SIMILAR PROVISION OF STATE LAW. HOWEVER, THE UNIVERSITY IS SUBJECT TO FEDERAL INCOME TAX ON ANY UNRELATED BUSINESS TAXABLE INCOME. THE UNIVERSITY FILES TAX RETURNS IN THE U.S. FEDERAL JURISDICTION. TAX EFFECTS FROM UNCERTAIN TAX POSITIONS ARE RECOGNIZED IN THE FINANCIAL STATEMENTS ONLY IF THE POSITION IS MORE LIKELY THAN NOT TO BE SUSTAINED IF THE POSITION WERE TO BE CHALLENGED BY A TAXING AUTHORITY. MANAGEMENT HAS DETERMINED THERE ARE NO MATERIAL UNCERTAIN TAX POSITIONS THAT REQUIRE RECOGNITION IN THE FINANCIAL STATEMENTS. THE UNIVERSITY IS NO LONGER SUBJECT TO U.S. FEDERAL, STATE, LOCAL OR NON-U.S. INCOME TAX EXAMINATIONS BY TAX AUTHORITIES FOR FISCAL YEARS BEFORE 2012. PART XI, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENT EXPENSES 175,322. PART XI, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS AND FINANCIAL AID 18,315,229. PART XII, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENT EXPENSES 175,322. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS AND FINANCIAL AID 18,315,229. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 THE UNIVERSITY'S POLICY IS ONE OF NON-DISCRIMINATION WITH RESPECT TO THE PUBLIC SERVED BY THE INSTITUTION AND WITH RESPECT TO UNIVERSITY PERSONNEL. ADVERTISEMENTS, BROCHURES, PUBLICATIONS, APPLICATION FOR ADMISSIONS, ETC., CONTAIN A STATEMENT TO THE EFFECT THAT THE UNIVERSITY DOES NOT DISCRIMINATE ON THE BASIS OF RACE, COLOR, RELIGION, GENDER, GENDER IDENTITY, GENETIC INFORMATION, AGE, NATIONAL ORIGIN, ANCESTRY, MARITAL STATUS, SEXUAL ORIENTATION, HANDICAP, DISABILITY, VETERAN STATUS OR UNFAVORABLE DISCHARGE FROM MILITARY SERVICE. SCHEDULE E, PART I, LINE 6 THE UNIVERSITY APPLIES FOR AND RECEIVES EDUCATIONAL GRANTS, AS APPROVED ON A CASE BY CASE BASIS, FROM FEDERAL AND STATE AGENCIES. THE UNIVERSITY ALSO PARTICIPATES ANNUALLY IN FEDERAL & STATE FINANCIAL AID PROGRAMS, SPECIFICALLY PELL, FSEOG, FEDERAL WORK-STUDY, PERKINS LOANS, FEDERAL DIRECT LOANS, AND VARIOUS STATE OF ILLINOIS SCHOLARSHIP AND GRANT PROGRAMS FOR QUALIFIED STUDENTS (I.E., IL MAP). 1 EAST ASIA AND THE PACIFIC PROGRAM SERVICES RECRUITING 53000 SOUTH AMERICA PROGRAM SERVICES INSTRUCTION 3782 0 0 0 0 0 0 56782 0 56782 0 0 0 0 0 0 PART I, LINE 2: THE UNIVERSITY HAS CONTROLS IN PLACE TO MONITOR THE USE OF ALL GRANT FUNDS AND OTHER ASSISTANCE. THE UNIVERSITY WORKED WITH A FOREIGN AGENCY DURING THE TAX YEAR TO HELP THE UNVIERSITY RECRUIT STUDENTS FROM FOREIGN COUNTRIES. X X X X X X X 1 GRANTS PLUS LLC 1422 EUCLID AVENUE STE 970 CLEVELAND OH 441152011 FUNDRAISING CONSULTING 0 52272 65282 -13010 52272 65282 -13010 IL CARITAS SCHOLARSHIP BALL 485779 274399 211380 41274 5000 90899 PAT SULLIVAN GOLF OUTING 71745 58170 13575 9947 4031 6536 1 35944 26915 9029 500 7050 8000 2085 593468 359484 233984 10447 52355 13000 99520 175322 58662 1 SCHOLARSHIPS & GRANTS 1807 18315229 PART I, LINE 2: THE UNIVERSITY HAS CONTROLS IN PLACE TO MONITOR THE USE OF ALL GRANT FUNDS. THE UNIVERSITY PROVIDES SCHOLARSHIPS AND GRANTS TO STUDENTS MATRICULATING AT THE UNIVERSITY. THE DEVELOPMENT AND FINANCIAL AID DEPARTMENTS REVIEW OVERALL USE OF SCHOLARHSIP AND OTHER GRANT FUNDS TO ENSURE THAT THE RECIPIENTS ARE ELIGIBLE TO RECEIVE THE FUNDS. ALL FUNDS ISSUED TO THE STUDENTS ARE REQUIRED TO DEFRAY THE COST OF TUITION, ROOM AND BOARD. SINCE THE STUDENTS HAVE NO DISCRETION IN THE USE OF THE FUNDS, THE UNIVERSITY HAS NO NEED TO MONITOR THE GRANTS ONCE THEY ARE ISSUED. X X X X X X 1 0 0 0 0 0 0 0 0 ARVID C JOHNSON SECRETARY & UNIVERSITY PRESIDENT 241037 0 0 0 6885 0 23000 0 13920 0 284842 0 0 0 ELIZABETH A LAKEN VP ADMIN & FINANCE/TREASURER 152075 0 0 0 937 0 15495 0 5760 0 174267 0 0 0 FRANK PASCOE PROVOST AND ACADEMIC VP 165449 0 0 0 10611 0 16669 0 0 0 192729 0 0 0 ROBERT BEHLING BUSINESS & HEALTH ADMIN PROFESSOR 129953 0 0 0 872 0 10639 0 13920 0 155384 0 0 0 LYLE HICKS REC SPORTS & TOURISM MGMT PROF 142785 0 0 0 0 0 14023 0 5760 0 162568 0 0 0 MICHAEL VINCIGUERRA FORMER SECRETARY & UNIVERSITY PRESID 12000 0 0 0 0 0 0 0 0 0 12000 0 0 0 PART I, LINE 4A MICHAEL VINCIGUERRA - $12,000 A ILLINOIS FINANCE AUTHORITY 861091967 NONEAVAIL 2013-06-17 24248000 SEE SCHEDULE K, PART VI 0 0 0 A 24248000 245436 24002564 2013 1 0 1 1 A 0 0 1 1 0 0.01000 0.01000 0 0 1 A 0 1 1 1 1 1 SEE SCHEDULE K PART IV 7.100000000000 0 0 0 0 1 A 1 SCHEDULE K, PART I, LINE A, COLUMN F - PURPOSE OF THE BOND: THE PROCEEDS OF THE ISSUE WERE DEPOSITED INTO ESCROW ON 6/17/13, AND THEN WERE ENTIRELY SPENT ON 6/18/13 TO (I) CURRENTLY REFUND THE OUTSTANDING $13,380,000 BALANCE OF THE COUNTY OF WILL, ILLINOIS ADJUSTABLE RATE DEMAND REVENUE BONDS ISSUED IN 2005; (II) CURRENTLY REFUND THE OUTSTANDING $11,370,000 BALANCE OF THE COUNTY OF WILL, ILLINOIS TAX-EXEMPT VARIABLE RATE DEMAND REVENUE BONDS ISSUED IN 2007; AND (III) FUND COSTS ASSOCIATED WITH THE ISSUANCE OF THE BOND. SCHEDULE K, PART IV, LINE 2C, COLUMN A THE LAST DATE A REBATE CALCULATION WAS PERFORMED FOR THIS BOND ISSUE WAS 6/30/13. SCHEDULE K, PART IV, LINE 4B, COLUMN A NORTH SHORE COMMUNITY BANK & TRUST COMPANY PATRICIA PASCOE FAMILY OF KEY EMPLOYEE 111028 THE UNIVERSITY EMPLOYS PATRICIA PASCOE WHO IS AN INTERESTED PERSON DUE TO HER FAMILY RELATIONSHIP WITH A KEY EMPLOYEE OF THE UNIVERSITY. 0 ALBAN SCHEUBER FAMILY OF BOARD MEMBER 90520 THE UNIVERSITY EMPLOYS ALBAN SCHEUBER WHO IS AN INTERESTED PERSON DUE TO HIS FAMILY RELATIONSHIP WITH A BOARD OF TRUSTEES MEMBER OF THE UNIVERSITY. 0 X 2 1000 COMPARABLE COST X 17987 COMPARABLE COST X 2 14524 MARKET VALUE STOCK QUOTE X 1 68000 APPRAISED VALUE X 3 342 ACTUAL COST X AUCTION ITEMS 67 40614 ACTUAL COST X KITCHEN EQUIPMENT 1 35000 ACTUAL COST X RAFFLE ITEMS 1 5500 ACTUAL COST X EDUCATIONAL EQUIPMENT 5 3430 COMPARABLE COST 0 1 1 PART I, COLUMN (B): THE UNIVERSITY REPORTS THE NUMBER OF CONTRIBUTIONS OF ALL ITEMS CHECKED IN PART I, COLUMN (A). PART I, LINE 32B: WHEN THE UNIVERSITY RECEIVES A STOCK GIFT, THE DEVELOPMENT OFFICE REFERS THE DONOR TO THE UNIVERSITY'S THIRD-PARTY BROKER. UPON AUTHORIZATION FROM THE VICE PRESIDENT FOR ADMINISTRATION AND FINANCE OR THE CONTROLLER, THE BROKER SELLS THE STOCK AND SENDS THE UNIVERSITY THE NET PROCEEDS FROM THE SALE. FORM 990, PART VI, SECTION B, LINE 11 A REVIEW WAS CONDUCTED PRIOR TO FILING THE 990 WITH THE IRS. THE CONTROLLER AND OTHERS IN BUSINESS AFFAIRS GATHER ALL INFORMATION FROM VARIOUS AREAS OF THE UNIVERSITY AND SUBMIT THE INFORMATION TO EXTERNAL TAX PROFESSIONALS TO PREPARE THE FIRST DRAFT OF THE 990. THE CONTROLLER THEN REVIEWS THE DRAFT AND MAKES ANY NECESSARY CORRECTIONS AND CHANGES. THE SECOND DRAFT WAS REVIEWED BY THE VICE PRESIDENT FOR ADMINISTRATION AND FINANCE AND THE PRESIDENT OF THE UNIVERSITY. AGAIN, UPDATES AND CHANGES WERE MADE IF NECESSARY. A FINAL DRAFT WAS SENT VIA EMAIL TO ALL VOTING BOARD MEMBERS FOR THEIR REVIEW AND ACCEPTANCE. IF ANY CHANGES WERE REQUIRED AFTER BOARD REVIEW, THEY WERE SENT TO THE TAX PROFESSIONALS FOR INCORPORATION INTO THE FINAL FORM 990. FORM 990, PART VI, SECTION B, LINE 12C CONFLICT OF INTEREST DISCLOSURE STATEMENTS ARE SENT TO EACH BOARD MEMBER EACH SUMMER. ALL BOARD MEMBERS ARE EXPECTED TO RETURN THE CONFLICT OF INTEREST DISCLOSURE STATEMENTS TO THE EXECUTIVE ASSISTANT TO THE PRESIDENT AT THE FALL BOARD MEETING, IF NOT SOONER. A PROCESS HAS BEEN ESTABLISHED TO FOLLOW UP WITH ANY MEMBERS WHO HAVE NOT RETURNED THE CONFLICT OF INTEREST DISCLOSURE STATEMENT WITHIN THE GIVEN PARAMETERS. THE UNIVERSITY MONITORS CONFLICTS OF INTEREST BY SENDING OUT A QUESTIONNAIRE ANNUALLY. IN ADDITION, CONFLICTS ARE MONITORED AT EVERY MEETING A QUESTION REGARDING CONFLICTS IS RAISED. IF A CONFLICT ARISES, THE BOARD MEMBER RECUSES HIMSELF/HERSELF FROM PARTICIPATING IN THE GOVERNING BODY'S DELIBERATIONS AND ACTIONS ON THE TOPIC OR TRANSACTION UNDER CONSIDERATION. FORM 990, PART VI, SECTION B, LINE 15 THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES FUNCTIONS AS THE COMPENSATION COMMITTEE AND IS RESPONSIBLE FOR DETERMINING THE PRESIDENT'S SALARY AND BENEFITS. THE COMPENSATION COMMITTEE WORKS WITH HUMAN RESOURCES, THE PRESIDENT, AND OUTSIDE CONSULTANTS (AS NEEDED) TO OBTAIN COMPARABLE SALARY AND BENEFIT DATA FROM ORGANIZATIONS SUCH AS THE COLLEGE AND UNIVERSITY PERSONNEL ASSOCIATION (CUPA), IN ORDER TO ESTABLISH APPROPRIATE SALARY AND BENEFITS PACKAGES. THE COMPENSATION COMMITTEE CONSISTS OF THE CHAIRPERSON OF THE BOARD OF TRUSTESS AND THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTESS, WHO ARE NOT RELATED TO THE PRESIDENT AND DO NOT PERFORM MANAGEMENT-DIRECTED SERVICES TO THE UNIVERSITY. THE PRESIDENT OF THE UNIVERSITY HAS A MULTI-YEAR CONTRACT, PERFORMANCE AGAINST WHICH IS REVIEWED ANNUALLY TO DETERMINE IF ALL OBJECTIVES HAVE BEEN SATISFIED. THE PRESIDENT OF THE UNIVERSITY - UPON CONSULTATION WITH THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES - IS RESPONSIBLE FOR DETERMINING THE COMPENSATION OF THE PRESIDENT'S DIRECT REPORTS AND THE ACADEMIC DEANS AND WORKS WITH HUMAN RESOURCES TO OBTAIN COMPARABLE SALARY AND BENEFITS DATA FROM ORGANIZATIONS SUCH AS CUPA. ALL COMPENSATION DECISIONS ARE CONTEMPORANEOUSLY DOCUMENTED. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY AVAILABLE TO THE PUBLIC UPON REQUEST. THE AUDITED FINANCIAL STATEMENTS AND PUBLIC DISCLOSURE COPIES OF THE IRS FORM 990 AND 990-T ARE AVAILABLE TO THE PUBLIC AT THE UNIVERSITY OF ST. FRANCIS' WEBSITE, WWW.STFRANCIS.EDU. FORM 990, PART XI, LINE 9: CHANGE IN FAIR VALUE OF INTEREST RATE SWAP AGREEMENT -268,188. CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS 16,212. SCHEDULE D, PART V, COLUMN B, LINE 1A ENDOWMENT FUNDS THE BEGINNING BALANCE OF THE ENDOWMENT FUNDS WAS RESTATED DURING THE FISCAL YEAR ENDED MAY 31, 2013. THE RESTATEMENT TOTALED $3,404,947, WHICH INCREASED THE BEGINNING OF YEAR BALANCE FROM $10,202,264 TO $13,607,211. THE EFFECT OF THE RESTATEMENT TO THE ENDOWMENT FUNDS WAS AN INCREASE IN THE UNRESTRICTED, TEMPORARILY RESTRICTED, AND PERMANENTLY RESTRICTED ENDOWMENT OF $1,754,422, $836,231, AND $814,294, RESPECTIVELY. SCHEDULE G, PART I THE UNIVERSITY OF ST. FRANCIS HIRED GRANTS PLUS TO SERVE AS A PROFESSIONAL FUNDRAISER TO ASSIST WITH THE RESEARCH AND PREPARATION OF GRANT PROPOSALS IN THE BEGINNING OF THE FISCAL YEAR ENDED MAY 31, 2014. ALTHOUGH MANY GRANT PROPOSALS HAVE BEEN SUBMITTED, BY THE END OF THE CURRENT FISCAL YEAR THE UNIVERSITY HAS RECEIVED GRANT FUNDS FROM ONLY TWO AGENCIES. IT IS ANTICIPATED THAT THE UNIVERSITY WILL RECEIVE ADDITIONAL FUTURE GRANTS FROM THEIR EFFORTS. THE UNIVERSITY WILL CLOSELY MONITOR THEIR ARRANGEMENT WITH GRANTS PLUS. SISTERS OF ST FRANCIS OF MARY IMMACULATE 1433 ESSINGTON JOLIET IL 60435 362764900 RELIGIOUS ORDER IL 501(C)(3) LINE 1 N/A 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1